Cargolux expands amid financial woes

Despite posting a net loss of $18.3 million in 2011, Cargolux is in expansion mode. In addition to launching two new weekly routes to Chongqing in mid-May, the Luxembourg-based freight carrier has commenced weekly cargo service to Manaus, Brazil.

According to a press release, Cargolux will fly from Luxembourg to Manaus via Sao Paulo, and then route through Quito, Ecuador; Bogata; and Maastricht, Netherlands, before returning to Luxembourg.

On Cargolux’s first route to Chongqing, it will depart from Luxembourg, route through Doha, Qatar, and Sharjah, United Arab Emirates, and then arrive at Chongqing Jiangbei International Airport the next evening. The carrier will then return to Luxembourg via Singapore; Kuala Lumpur; and Baku, Azerbaijan, one day later. Cargolux’s second service to Chongqing will route through Tbilisi, Georgia; Baku, Azerbaijan; and Singapore and then return to Luxembourg via Baku, according to the press release.

Frank Reimen, Cargolux’s president and CEO, said the decision to launch two weekly flights to Chongqing was based on the region’s immense airfreight growth. “We see a lot of potential in Chongqing, not least because of the planned expansion of the airport’s cargo facilities to accommodate the region’s burgeoning export market,” he added.

Cargolux expects to see large volumes of electronics, automotive parts and pharmaceuticals out of Chongqing, according to the press release.

On the carrier’s new Brazil route, transport equipment, footwear, cars and iron ore are projected to be the key exports, while machinery, chemical products, oil, electronics and automotive spare parts will likely comprise the main imports into Manaus’ Eduardo Gomes International Airport.

“Brazil is an important market for Cargolux,” Reimen said in a statement. “It is the economic engine of the region. The presence of multinational companies has stimulated demand for fast and reliable air cargo transport, which is precisely what we offer our customers.”

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